Posts

• August 24, 2010

  Re-examining Canada’s Monetary Policy Framework: Recent Research and Outstanding Issues

  Remarks John Murray Canadian Association for Business Economics Kingston, Ontario

  I am honoured to address members of the Canadian Association for Business Economics. My remarks today will focus on critical issues that the Bank of Canada has studied over the past four years and how this research will inform our work as we move forward post crisis.

  Content Type(s): Press, Speeches and appearances, Remarks

• Evaluating the Effect of the Bank of Canada's Conditional Commitment Policy

  Staff Discussion Paper 2010-11 Zhongfang He

  The author evaluates the effect of the Bank of Canada's conditional commitment regarding the target overnight rate on longer-term market interest rates by taking into account the relationship between interest rates, inflation, and unemployment rates.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Interest rates, Monetary policy implementation, Monetary policy transmission JEL Code(s): E, E4, E5, E6
• August 24, 2010

  Bank of Canada Announces the Recipients of Its 2010 Law Enforcement Award of Excellence for Counterfeit Deterrence

  Media Relations Ottawa, Ontario

  The Bank of Canada is pleased to announce the recipients of its 2010 Law Enforcement Award of Excellence for Counterfeit Deterrence. The award was established in 2004 to recognize the work of Canadian law-enforcement personnel in deterring and preventing the counterfeiting of Canada's bank notes.

  Content Type(s): Press, Press releases

• Liquidity Transformation and Bank Capital Requirements

  Staff Working Paper 2010-22 Hajime Tomura

  This paper presents a dynamic general equilibrium model where asymmetric information about asset quality leads to asset illiquidity. Banking arises endogenously in this environment as banks can pool illiquid assets to average out their idiosyncratic qualities and issue liquid liabilities backed by pooled assets whose total quality is public information.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Financial system regulation and policies JEL Code(s): D, D8, D82, E, E4, E44, G, G2, G21
• August 19, 2010

  Monetary Policy and the Zero Bound on Nominal Interest Rates

  Bank of Canada Review - Summer 2010 Robert Amano, Malik Shukayev

  The recent financial crisis and global economic slowdown have renewed interest in monetary policy options when the policy interest rate is at or near zero.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Inflation targets, Monetary policy framework
• August 19, 2010

  Price-Level Targeting and Relative-Price Shocks

  Bank of Canada Review - Summer 2010 Stephen Murchison

  Stephen Murchison reviews the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy, such as Canada's, that is susceptible to large and persistent terms-of-trade shocks.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Central bank research, Inflation targets, Monetary policy framework
• August 19, 2010

  Should Monetary Policy Be Used to Counteract Financial Imbalances?

  Bank of Canada Review - Summer 2010 Jean Boivin, Césaire Meh, Timothy Lane

  The authors examine whether monetary policy should and could do more to lean against financial imbalances (such as those associated with asset-price bubbles or unsustainable credit expansion) as they are building up, or whether its role should be limited to cleaning up the economic consequences as the imbalances unwind.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial system regulation and policies, Monetary policy framework
• August 19, 2010

  Conference Summary: New Frontiers in Monetary Policy Design

  Bank of Canada Review - Summer 2010 Robert Amano, Kevin Devereux, Rhys R. Mendes

  Although the current inflation-targeting regime has served Canadians well, sound public policy demands the continuous exploration of possible improvements in the monetary policy framework.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Central bank research, Inflation targets, Monetary policy framework
• August 19, 2010

  Bank of Canada Review - Summer 2010

  

  Examination of how, when the policy interest rate is at or near zero, different monetary policy frameworks might help to lower the risk and economic cost of such a scenario; review of the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy; examination of monetary policy being used to counteract financial imbalances; conference summary: new frontiers in monetary policy design.

  Content Type(s): Publications, Bank of Canada Review
• August 18, 2010

  Bank of Canada releases report assessing impact of stronger capital and liquidity requirements on the Canadian economy

  Media Relations

  Following similar international reports by the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS), the Bank of Canada today published a comprehensive assessment of the potential impact on the Canadian economy of new global capital and liquidity standards, which are to be finalized later this year by the G-20.

  Content Type(s): Press, Press releases